Topic: What is the basic difference bitcoin and ethereum? - page 3. (Read 383 times)
The two are not comparable.
Bitcoin established the status of cryptocurrency and is the king of cryptocurrency.
Ethereum is the king of altcoin and focuses on application.
There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Agree, both are greats project on Crypto space currently, the only thing that needs to be improved for both projects are the transaction time and cost.
...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools. And it's also hard to update Dapps, and much harder to maintain, specially if it become too complex.
For the updates, you need every node to comply so it might take some time as other nodes might not cooperate, you need a consensus, per se.
And then the security risks that you mentioned, it's the most important part of maintaining Dapps. So I would say it has it's limitations as compare to bitcoin.
...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools. I expect the term that cant controlled by any individual or organization is that if the dApps already deployed, the code cant be changed anymore.
Its not like an traditional apps where someone could update the apps and inject virus on it.
Just to add up some key differences.
Key Differences
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).
Link source: https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp
Key Differences
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).
Link source: https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp
There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
While still volatile, Bitcoin is arguably one of the most stable cryptocurrencies with a long history, and has been the most consistent investment asset to date.Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
And Ethereum has been updated to create new ETH through a process called Proof of stake (PoS). With it, users can force collateral in the form of ETH to be a validator on the network. if there is more ETH then the value will be higher because there is only a little ETH in circulation.
...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools. 
Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
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